REG - Volex PLC - Launch of £40 million Share Buyback Programme

VolexAnnouncement

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RNS Number : 3897Z  Volex PLC  07 April 2026

 

 

LEI: 213800HBLQNH5FXXGE63

 

7 April 2026

 

The information contained within this announcement is deemed to constitute
inside information under the Market Abuse Regulation (EU) No. 596/2014 as it
forms part of UK law by virtue of the European Union (Withdrawal) Act 2018
("UK MAR"). The information is disclosed in accordance with the Company's
obligations under Article 17 of UK MAR. Upon publication of this announcement,
this inside information is considered to be in the public domain.

 

Volex plc

("Volex", the "Company", or the "Group")

Launch of £40 million Share Buyback Programme

 

Volex plc (AIM: VLX), the specialist integrated manufacturer of critical power
and data transmission products, announces the launch of an on-market share
buyback programme to purchase its ordinary shares of 25 pence each (the
"Ordinary Shares") up to an aggregate value of £40 million (the "Share
Buyback Programme").

 

The purpose of the Share Buyback Programme is to reduce the Company's share
capital and return surplus capital to the Company's shareholders. All Ordinary
Shares repurchased by the Company pursuant to the Share Buyback Programme will
be cancelled.

 

The Board regularly reviews the Group's cash performance, ongoing capital
requirements and approach to capital allocation, and considers the Share
Buyback Programme to be in the best interests of the Company and its
shareholders, providing a further means of returning surplus capital, whilst
maintaining the financial flexibility to continue to invest in the Group's
strategy.

 

The Company has entered into an agreement with Peel Hunt LLP ("Peel Hunt") to
conduct the Share Buyback Programme on its behalf and carry out on-market
purchases of Ordinary Shares (the "Agreement"). The Share Buyback Programme
will commence immediately and will end no later than 31 March 2027. Any
purchases of Ordinary Shares pursuant to the Share Buyback Programme will be
carried out in accordance with certain pre-set parameters set out in the
Agreement. Peel Hunt will make trading decisions in relation to the Share
Buyback Programme independently of the Company. Under the Agreement, the
Company has issued non-discretionary instructions to Peel Hunt to manage the
Share Buyback Programme in order that purchases of Ordinary Shares can
continue during closed periods, and should the Company come into possession of
inside information. The Agreement is subject to customary termination rights
in favour of the Company and Peel Hunt.

 

Any purchases pursuant to the Share Buyback Programme shall take place in
accordance with (and subject to the limits prescribed by) the Company's
general authority to repurchase Ordinary Shares granted by its shareholders at
the annual general meeting on 7 August 2025 (the "2025 Authority") and any
further authority to repurchase Ordinary Shares as may be granted by the
Company's shareholders from time to time. The maximum number of Ordinary
Shares that the Company is currently authorised to purchase under the 2025
Authority is 18,452,993, representing approximately 10 per cent. of the
Company's share capital as at the date of this announcement. While the Company
has launched the Share Buyback Programme, there can be no certainty that this
or any other number of Ordinary Shares will be purchased by the Company, nor
any certainty as regards the pace of any such purchases.

 

Due to limited liquidity in the Ordinary Shares and in order to proceed with
the Share Buyback Programme in an effective manner, the Company's purchases of
Ordinary Shares on any trading day may exceed 25 per cent., but will remain
below 50 per cent., of the average daily trading volume of Ordinary Shares
during the 20 trading days preceding the date of purchase. In all other
respects purchases of Ordinary Shares pursuant to the Share Buyback Programme
shall take place in accordance with Article 5 of UK MAR and the Commission
Delegated Regulation (EU) No 2016/1052 with regard to regulatory technical
standards for the conditions applicable to buyback programmes and
stabilisation measures, as it forms part of UK law by virtue of the European
Union (Withdrawal) Act 2018.

 

The Company will announce all purchases of Ordinary Shares pursuant to the
Share Buyback Programme by no later than the seventh daily market session
following the calendar day on which such purchases occurred.

 

 

Notes:

 

At the date of this announcement, the Company's share capital comprises
185,097,534 Ordinary Shares.

 

The 2025 Authority will expire on the earlier of 6 November 2026 or the date
of the Company's next annual general meeting (the "2026 AGM"), at which the
Company expects to seek renewal of the 2025 Authority. The continuation of the
Share Buyback Programme beyond the conclusion of the 2026 AGM will be
conditional on the requisite shareholder approval being obtained and any
further purchases following the 2026 AGM will be in accordance with the terms
of such approval.

 

-ENDS-

For further information please contact:

 

 Volex plc                                                                    +44 (0) 1256 442570
 Nat Rothschild, Chief Executive Officer                                      investor.relations@volex.com
 Jon Boaden, Chief Financial Officer

 Peel Hunt LLP - Nominated Adviser & Joint Broker                             +44 (0) 20 7418 8900
 Ed Allsopp
 Dom Convey
 Tom Graham

 Sodali & Co. - Media Enquiries                                               +44 (0) 20 7250 1446
 James White
 Nicholas Johnson

 

About Volex plc

Volex plc (AIM:VLX) is a driving force in integrated manufacturing for
mission-critical applications and a global leader in power and data
connectivity solutions. Our diverse operations support international blue-chip
customers in five key end-markets: Electric Vehicles, Consumer Electricals,
Medical, Complex Industrial Technology and Off-Highway. Headquartered in the
UK, we orchestrate operations across 23 advanced manufacturing facilities,
uniting 13,000 dynamic individuals from 25 different nations. Our
extraordinary products find their way to market through our localised sales
teams and authorised distributor partners, supporting Original Equipment
Manufacturers and Electronic Manufacturing Services companies across the
globe. In a world that grows more digitally complex by the day, customers
trust us to deliver power and connectivity that drives everything from
household essentials to life-saving medical equipment. Learn more at
www.volex.com.

 

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